It is important to find a good way of sharing costs and risks in infrastructure projects. Regulatory and political stability, and good dispute-resolution mechanisms are needed as well.

PHOTO: BLOOMBERG

Tokyo

IT SEEMED like a Freudian slip when Asian Development Bank (ADB) president Takehiko Nakao referred during this year's ADB annual meeting in Frankfurt to a "merger" of his bank and the Asian Infrastructure Investment Bank (AIIB). He was referring only to combined financing from the